General Motors recently recalled 2.6 million of its Chevrolet Cobalt model due to a an ignition problem.
The automobile insensitively sent recall notices to the families of victims of accidents from the model.
GM spokesman Greg Martin said that GM is “deeply sorry to those families who received a recall notice.”
Image via Twitter/GM
The minimum wage in Seattle is set to increase to $15 an hour, making it the highest in the United States.
The Seattle City Council unanimously passed legislature to raise minimum wage from the Washington state minimum of $9.32 to $15.
Federal government mandates at least $7.25 an hour.
Image via Wikimedia Commons.
Golf star Phil Mickelson is reportedly being investigated by the FBI and SEC for possible insider trading.
Investigators are looking into Mickelson and gambler William Walters and their involvement with billionaire investor Carl Icahn.
Icahn and Mickelson both deny any involvement with each other. The investigation has been ongoing for over three years.
Image via Twitter/MickelsonHat
The second-largest bank in the United States may find itself paying over $12 billion to settle government probes.
Bank of America Corp faces probes over shoddy mortgages prior to the financial crisis. It is reported that at least $5 billion of the $12 billion settlement would go toward consumer relief.
Neither Bank of America or the United States Department of Justice agreed to comment on the settlement.
Image by Brian Katt via Wikimedia Commons.
After security breaches like one of the magnitude of the Target scandal, MasterCard is making strides to make its cardholders feel safer.
The credit and debit card company is extending its zero-liability protection to all PIN-based and ATM transactions, taking effect in October. The protection currently only protects transactions made by signature, leaving a cardholder vulnerable if a thief gets a hold of his or her personal identification number.
Image via Twitter/MasterCard
President of the Federal Reserve Bank of Atlanta Dennis Lockhart says that he sees the economy rebounding after its rough start to 2014.
Lockhart says that the Federal Reserve System needs to have patience with the labor markets and increasing rates, although many Fed members are concerned about the market tightening.
Image via Twitter/AtlantaFed
Goldman Sachs Group Inc and JPMorgan Chase & Co have been accused of conspiring to manipulate the United States price of zinc.
A representative for Goldman Sachs says that the company is “vigorously” contesting the lawsuit, while JPMorgan declined to comment.
Image by Youngking11 via Wikimedia Commons.
Despite a slow start in 2014, the United States economy has seen steady growth over the past three months.
The economy is expected to continue to expand and may even grow at a larger rate through the second half of 2014.
Image via Twitter/CEDUpdate
According to a poll of economists, United States inflation will reach two percent by the end of 2014.
Economists have increased their forecasts from a month ago for inflation and job growth and hiring.
Interest rates are not expected to rise until later next year.
Image by MediaPhoto.Org via Wikimedia Commons.
According to a report released by HSH, San Francisco is the most expensive city in the United States for home buyers.
San Francisco homes have a median home price of $679,000 with median monthly payments of $3,199.69. The report calculates that a person would need to make at least $137,129.55 per year to live in San Francisco.
Second on the list was San Diego with a median home price of $483,000, and a salary of $98,534.22 per year needed to live there.
Image via Wikimedia Commons.